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Determining the factors which affect the stock investment decisions of potential female investors in Indonesia

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  • Linda Ariany Mahastanti
  • Edy Hariady

Abstract

In recent years, the increasing number of career women has become a new phenomenon in Indonesia. Women do not only become housewives, but they can also work to earn additional income for the family. It encouraged Jakarta Stock Exchange (JSX) to have a special programme to create a promotion for potential female investors, since there have not been many females who have become investors in the stock market. The purpose of this paper is to look for the factors which influence the investments' intentions, especially for women in Indonesia, by applying the theory of planned behaviour (TPB). This research used the TPB in order to describe more deeply about the relationships between beliefs and behaviour. The theory states that attitudes towards behaviour, subjective norms and perceived behavioural control, shape an individual's behavioural intentions altogether. The study used self-administered questionnaires which were distributed to the samples of female lecturers in a university. The data was analysed with multiple regression technique. This result indicated that the intention to buy financial products was influenced by perceived behavioural control and risk preference, but it was not affected by subjective norms and attitudes.

Suggested Citation

  • Linda Ariany Mahastanti & Edy Hariady, 2014. "Determining the factors which affect the stock investment decisions of potential female investors in Indonesia," International Journal of Process Management and Benchmarking, Inderscience Enterprises Ltd, vol. 4(2), pages 186-197.
    • Handle: RePEc:ids:ijpmbe:v:4:y:2014:i:2:p:186-197
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    Citations

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    Cited by:

    1. Umi Widyastuti & Erie Febrian & Sutisna & Tettet Fitrijanti, 2019. "Factors Explaining the Market Discipline of Sharia Mutual Funds from a Behavioural Finance Perspective: A Theoretical Approach," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(3), pages 198-212.
    2. Anisa & Muamar Nur Kholid, 2022. "Examining the determinants of Islamic stock investment:An empirical study of Indonesian young investors," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(2), pages 207-213, March.
    3. Abu Elnasr E. Sobaih & Ibrahim A. Elshaer, 2023. "Risk-Taking, Financial Knowledge, and Risky Investment Intention: Expanding Theory of Planned Behavior Using a Moderating-Mediating Model," Mathematics, MDPI, vol. 11(2), pages 1-17, January.

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